The drone-powered logistics start-up has raised $18 million in a private venture capital round led by Main Sequence, after rejecting a tempting offer.
Drone-powered logistics start-up Swoop Aero has walked away from a $100 million takeover offer from a US company servicing the defence sector, instead raising another $18 million of private capital.
Unlike many companies that choose to keep such offers under wraps until a decision is made, Mr Peck looped in Swoop Aero’s staff early on and gauged their thoughts on the deal, as well as its investors. Rather than push for a higher valuation given the acquisition offer of about $100 million, Mr Peck said the company honoured the original valuations agreed upon before the proposal.
“It was the first time beyond line of sight in that country, and we were all standing up and watching it on our screens.Improving scalability
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